Which strategy best prepares a leasing professional to be successful when trying to retain a resident at renewal time?

Establishing an ongoing relationship with the resident at move-in is crucial for creating a sense of community and belonging, which significantly contributes to resident satisfaction. This strategy involves engaging with residents from the beginning of their lease to ensure they feel valued and connected to the property and management team. By fostering open lines of communication and providing consistent support, leasing professionals can address any concerns or issues that arise during the residency, leading to a more positive living experience.

When residents feel acknowledged and appreciated, they are more likely to renew their leases rather than seek alternative housing options. This relationship-building process can include regular check-ins, personalized communications, and inviting residents to community events. All these efforts can enhance their overall experience and ultimately encourage them to stay.

Other strategies, while potentially useful, may lack the depth of connection that a strong resident relationship can cultivate over time. For example, implementing move-out fees or offering incentives upon notice may not address the underlying reasons a resident may want to leave and can be perceived as pushing tactics rather than genuine engagement. Similarly, distributing marketing materials lacks the personal touch that helps residents feel invested in their home.